Businesses could face an increase in National Insurance (NI) in the upcoming Budget after comments from chancellor Rachel Reeves made yesterday (14 October) signalled a potential rise.
Reeves said Labour's election pledge not to increase NI on "working people" related to the employee element, as opposed to the sum paid by employers, BBC News reported. The Autumn budget is due to take place later this month (30 October). Reeves said the budget would be "tough", but said the difficult decisions would not turn firms away from investing in the UK because she will provide them long-term certainty about their taxation. The government has ruled out increasing VAT, NI or income tax. Reeves pledged to cap corporation tax, the levy paid by businesses on profits, at 25% ...
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